{"id":397770,"date":"2020-12-10T16:08:17","date_gmt":"2020-12-10T21:08:17","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=397770"},"modified":"2020-12-10T16:08:17","modified_gmt":"2020-12-10T21:08:17","slug":"healthstream-acquires-myclinicalexchange","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/healthstream-acquires-myclinicalexchange\/","title":{"rendered":"HealthStream Acquires myClinicalExchange"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>HealthStream Acquires myClinicalExchange<\/b><\/p>\n<p class=\"bwalignc\">\nFor the first time, HealthStream\u2019s footprint expands to include the healthcare workforce <i>before graduation<\/i>, providing new opportunities to make the transition-to-practice by medical, nursing, and allied healthcare students more seamless\n<\/p>\n<p>NASHVILLE, Tenn.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nHealthStream (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry, today announced that it has acquired substantially all of the assets of myClinicalExchange LLC, a Denver-based information technologies company. Through the acquisition, HealthStream gains myClinicalExchange\u2019s SaaS application that allows healthcare organizations to track, manage, and report the intern and clinical rotation educational requirements of medical, nursing, and allied healthcare students, as well as host required documentation for medical residents. The myClinicalExchange application has been used by approximately 400 hospitals; 1,000 colleges and universities; and 50,000 medical, nursing, and allied healthcare students, annually.\n<\/p>\n<p>\n\u201cRight now, millions of healthcare professionals know HealthStream well and regularly utilize our platform,\u201d said Robert A. Frist, Jr., Chief Executive Officer, HealthStream. \u201cBy adding myClinicalExchange, tens of thousands of medical, nursing, and allied healthcare students will join our user network, which I believe will add value to them in their careers, while healthcare organizations will benefit from early access and development of the new, upcoming classes of healthcare professionals. It\u2019s an exciting opportunity to introduce innovative synergies to the healthcare workforce.\u201d\n<\/p>\n<p>\nEvery year in the U.S., medical, nursing, and allied healthcare students are required to fulfill clinical rotations in a healthcare organization (primarily hospitals) as part of their educational programs. Hospitals, in turn, are responsible for managing their requests for rotations, tracking and ensuring compliance of their rotations, and ensuring that proper credentials are in place for their working in their organizations with patients. myClinicalExchange\u2019s ability to streamline these processes for both the student and the healthcare organization has made it a market-leading solution for this niche, critical area of workforce management.\n<\/p>\n<p>\n\u201cHealthStream\u2019s leadership as the healthcare industry\u2019s premier workforce solutions provider makes them ideally positioned to add myClinicalExchange to their ecosystem,\u201d said Shekar Jayaraman, founder, myClinicalExchange. \u201cOur myClinicalExchange application is consistently praised by some of the largest healthcare systems in the country\u2014and the opportunities that HealthStream can now add will benefit everybody.\u201d\n<\/p>\n<p>\nFollowing the acquisition, current customer support for the myClinicalExchange application will remain in place. Executive oversight of the myClinicalExchange business will be provided by Trisha Coady, Senior Vice President &amp; General Manager, Clinical Solutions, HealthStream. The myClinicalExchange application will be included in HealthStream\u2019s Workforce Solutions business segment.\n<\/p>\n<p>\n\u201cWe have an exciting vision for further supporting healthcare organizations in <i>their <\/i>hosting<i \/>of medical, nursing, and allied healthcare students who are fulfilling critical components of their education with clinical rotations,\u201d said Trisha Coady, Senior Vice President &amp; General Manager, Clinical Solutions, HealthStream. \u201cI would like to extend a warm welcome to myClinicalExchange\u2019s customers, users, and employees as we work together to achieve that vision.\u201d\n<\/p>\n<p><i>Terms of the Transaction:<br \/>\n<br \/><\/i>HealthStream acquired substantially all of the assets of myClinicalExchange LLC for approximately $4.5 million in cash, subject to customary purchase price adjustments.\n<\/p>\n<p><b>About HealthStream<br \/>\n<br \/><\/b>HealthStream (Nasdaq: HSTM) is dedicated to improving patient outcomes through the development of healthcare organizations\u2019 greatest asset: their people. Our unified suite of solutions is contracted by healthcare organizations across the U.S. for workforce development, training &amp; learning management, talent management, credentialing, privileging, provider enrollment, performance assessment, and managing simulation-based education programs. Based in Nashville, Tennessee, HealthStream has additional offices in Jericho, New York; Boulder; Colorado; Denver, Colorado; San Diego, California; Chicago, Illinois; Portland, Oregon; and Raleigh, North Carolina. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.healthstream.com&amp;esheet=52346705&amp;newsitemid=20201210006035&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.healthstream.com&amp;index=1&amp;md5=03ab923586a068f68f5aba2663d3e44e\">http:\/\/www.healthstream.com<\/a> or call 800-521-0574.\n<\/p>\n<p><i>This press release includes certain forward-looking statements (statements other than solely with respect to historical fact) that involve risks and uncertainties regarding HealthStream. These statements are based upon management\u2019s beliefs, as well as assumptions made by and data currently available to management. This information has been, or in the future may be, included in reliance on the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions that forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied<\/i><i>by the forward-looking statements, including that the anticipated financial results associated with the acquisition may not be achieved, and that the anticipated financial and strategic benefits of the acquisition may not be realized, as well as the result of risks referenced in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2019, filed on February 26, 2020, the Company\u2019s Quarterly Report on Form 10-Q for the three months ended September 30, 2020, filed on October 29, 2020, and in the Company\u2019s other filings with the Securities and Exchange Commission from time to time. The Company undertakes no obligation to update or revise any such forward-looking statements.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201210006035r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201210006035\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201210006035\/en\/<\/a><\/span><\/p>\n<p>\nMollie Condra, Ph.D.<br \/>\n<br \/>HealthStream<br \/>\n<br \/>(615)-301-3237<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:mollie.condra@healthstream.com\">mollie.condra@healthstream.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Tennessee Colorado United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Software Practice Management Human Resources Health Professional Services Technology Education Training<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201210006035\/en\/829586\/3\/logo_HSTM_USE_THIS_for_BW_-_28Sept2020FINAL.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>HealthStream Acquires myClinicalExchange For the first time, HealthStream\u2019s footprint expands to include the healthcare workforce before graduation, providing new opportunities to make the transition-to-practice by medical, nursing, and allied healthcare students more seamless NASHVILLE, Tenn.&#8211;(BUSINESS WIRE)&#8211; HealthStream (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry, today announced that it has acquired substantially all of the assets of myClinicalExchange LLC, a Denver-based information technologies company. Through the acquisition, HealthStream gains myClinicalExchange\u2019s SaaS application that allows healthcare organizations to track, manage, and report the intern and clinical rotation educational requirements of medical, nursing, and allied healthcare students, as well as host required documentation for medical residents. The myClinicalExchange application has been used by approximately 400 hospitals; &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/healthstream-acquires-myclinicalexchange\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;HealthStream Acquires myClinicalExchange&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-397770","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HealthStream Acquires myClinicalExchange - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/healthstream-acquires-myclinicalexchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HealthStream Acquires myClinicalExchange - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"HealthStream Acquires myClinicalExchange For the first time, HealthStream\u2019s footprint expands to include the healthcare workforce before graduation, providing new opportunities to make the transition-to-practice by medical, nursing, and allied healthcare students more seamless NASHVILLE, Tenn.&#8211;(BUSINESS WIRE)&#8211; HealthStream (Nasdaq: HSTM), a leading provider of workforce and provider solutions for the healthcare industry, today announced that it has acquired substantially all of the assets of myClinicalExchange LLC, a Denver-based information technologies company. Through the acquisition, HealthStream gains myClinicalExchange\u2019s SaaS application that allows healthcare organizations to track, manage, and report the intern and clinical rotation educational requirements of medical, nursing, and allied healthcare students, as well as host required documentation for medical residents. 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